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Market capitalisation declined by N1.762tn, from N159.255tn at the opening to N157.493tn at the close.
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The NGX All-Share Index fell by 2,756.48 points, from 246,723.57 to 243,967.09.
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The session recorded 28 gainers and 28 decliners, reflecting a mixed but increasingly cautious trading environment.
August 12, (THEWILL) — The Nigerian Exchange (NGX) extended its decline on Wednesday as renewed selling pressure across key stocks weighed on market performance, pushing market capitalisation down by N1.762 trillion.
The market capitalisation, which opened at N159.255 trillion, closed at N157.493 trillion, while the NGX All-Share Index (ASI) declined from 246,723.57 to 243,967.09.
The session recorded 28 gainers and 28 decliners, indicating an evenly split market breadth despite the significant decline in the benchmark index.
Top Five Gainers
- International Energy Insurance led the gainers’ chart, appreciating by 10.00 percent (N4.00 to N4.40).
- Ecobank Transnational Incorporated followed with a 9.93 percent gain (N64.95 to N71.40),
- Trans-Nationwide Express rose by 9.77 percent (N2.15 to N2.36).
- CWG advanced by 9.74 percent (N19.50 to N21.40)
- Cornerstone Insurance gained 6.80 percent (N5.15 to N5.50).
READ ALSO: NGX Closes Week Higher as First HoldCo, FCMB Lead Stock Gains
Top Five Decliners
- BUA Foods recorded the steepest decline, falling by 10.00 percent (N845.10 to N760.60).
- Unilever Nigeria followed with a 9.97 percent decline (N145.95 to N131.40).
- While John Holt shed 9.90 percent (N10.10 to N9.10).
- Ava Capital declined by 9.50 percent (N8.95 to N8.10)
- Austin Laz fell by 8.81 percent (N3.18 to N2.90).
FirstHoldCo Plc, Dangote Cement, Custodian Investment, Presco Plc, Julius Berger Plc, Cadbury Nigeria Plc, amongst others, closed flat for the day.
Investor sentiment remained cautious as the market came under renewed selling pressure, with the sharp decline in the ASI and market capitalisation pointing to a weaker session despite the balanced market breadth.
The performance of heavyweight stocks remained a key factor in the market’s decline, while gains recorded across selected counters were insufficient to offset the broader loss in market value.
The contrasting movements across individual stocks also reflected continued volatility and selective positioning as investors reassessed their portfolios.
The market may remain volatile in the next trading session as investors weigh recent losses against opportunities created by price corrections.
With market breadth evenly split, investors could continue to favour fundamentally strong stocks while taking a cautious approach to counters facing sustained selling pressure.
Attention is also likely to remain on corporate earnings, valuation levels and broader market sentiment as the NGX searches for a firmer direction.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
